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Stock impact report

Zcash Treasury Company Launches With Winklevoss Backing [Yahoo! Finance]

Sol Strategies Inc. - Common Shares (STKE) 
Company Research Source: Yahoo! Finance
pursues a digital asset strategy by accumulating ZEC, the native token of privacy coin Zcash The Cambridge-based biotechnology firm announced Wednesday it will deploy capital to initiate a digital asset strategy after securing a $58.88 million private placement led by Winklevoss Capital, the venture capital firm founded by Gemini founders Cameron and Tyler Winklevoss, according to a press release shared with Decrypt The company has already purchased 203,775.27 ZEC at an average price of $245 per token using $50 million of the proceeds, and will begin trading under the new ticker symbol CYPH on Thursday. Cypherpunk Technologies joins a growing list of public companies using crypto as a balance-sheet strategy, following Strategy's Bitcoin playbook and similar treasury experiments across the corporate world. Cypherpunk's pivot focuses on Zcash, the largest privacy-focused crypto, which uses zero-knowledge proofs to verify transactions without revealing wallet addresses or amounts Show less Read more
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